Inverness, FL Cost Of Living

Demographics | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Inverness, FL Summary

Cost of living in Inverness research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Inverness is expensive. An index value below 100 means the city is a relatively cheap place to live.

On a city-by-city basis in Florida, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:

  • The cost of living index in Inverness is 95, with 100 being the average.

  • The cost of living index in Inverness is 0.9x lower than the national average.

  • Inverness ranks as the #164 cheapest in Florida out of 459.

  • Inverness ranks as the #2,449 cheapest out of 6,412 in the US.

  • The median home value in Inverness is $120,100.

  • The median income in Inverness is $39,532.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
95
Inverness's Overall Cost Of Living
0.9x
Lower Than The National Average

What is the cost of living in Inverness, FL?

According to the most recent data on the cost of living, Inverness has an overall cost of living index of 95, which is 0.9x lower than the national index of 100.

Compared to Florida, Inverness has a cost of living index that's 0.9x lower than Florida's index of 101.

The standard of living in Inverness ranks as #164 most affordable out of the 459 places we measured in Florida. By definition, that implies Inverness ranks as the #295 most expensive place in the Sunshine State.

For more reading on life in Inverness, check out:

164 out of 459
In Florida
2,449 out of 6,412
In America

Inverness Cost Of Living Vs. Florida

Six factors go into calculating the cost of living index in Inverness. Here is how it fairs on each of the criteria:

  • The Services index in Inverness is 96.

  • The Groceries index in Inverness is 117.

  • The Health index in Inverness is 87.

  • The Housing index in Inverness is 59.

  • The Transportation index in Inverness is 97.

  • The Utilities index in Inverness is 159.

Living Expense Inverness Florida National Average
Overall 95 101 100
Services 96 98 100
Groceries 117 101 100
Health 87 96 100
Housing 59 108 100
Transportation 97 98 100
Utilities 159 100 100
For more reading on cost of living around Florida, check out:
Inverness Cost of Living Vs. FL

Inverness, FL Housing Cost Breakdown

Housing swings affordability the most between places in Florida, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:

  • The Median Home Value in Inverness is $120,100.

  • The Median Rent in Inverness is $842.

  • The Median Income in Inverness is $39,532.

  • The Home Value To Income in Inverness is 3.0x.

  • The Rent To Monthly Income in Inverness is 0.26x.

Statistic Inverness Florida United States
Median Home Value $120,100 $248,700 $244,900
Median Rent $842 $1,301 $1,163
Median Income $39,532 $61,777 $69,021
Home Value To Income 3.0x 4.0x 3.5x
Rent To Monthly Income 0.26x 0.25x 0.2x
Search Homes For Sale In Inverness, FL
$120,100
Median Home Value
$842
Median Rent
$39,532
Median Income

Inverness, FL Costs By Category

Detailed Inverness Services Costs Vs. Florida

Item Inverness Florida
Shampoo $1.01 $1.06
Movie $11.49 $10.68
Bowling $17.39 $14.67
Haircut $21.73 $18.62
Beauty Salon $40.25 $39.05

Detailed Inverness Groceries Costs Vs. Florida

Item Inverness Florida
Ground Beef $5.46 $4.22
Fried Chicken $1.89 $1.39
Milk $2.92 $2.05
Potatoes $4.23 $3.29
Pizza $9.13 $10.62
Beer $9.29 $9.38
Toothpaste $2.16 $2.34

Detailed Inverness Health Costs Vs. Florida

Item Inverness Florida
Optometrist $89.98 $108.57
Doctor $91.27 $116.17
Dentist $95.59 $99.13

Detailed Inverness Transportation Costs Vs. Florida

Item Inverness Florida
Gasoline $2.1 $2.22
Tire Balancing $52.85 $50.07

Detailed Inverness Utilities Costs Vs. Florida

Item Inverness Florida
All Electricity $329.6 $167.67
Phone $189.31 $175.64

Inverness SnackAbility

5
/10
Overall SnackAbility
Jobs
3/10
Housing
6
Affordability
4
Diversity
6
Safety
N/A
Amenities
8
Education
5
Commute
8

Cost Of Living In Cities Around Inverness

The cost of living varies in the cities and towns around Inverness. Here's a quick look at the cost of living in the most populous nearby places:

  • Spring Hill, FL has a cost of living index of 93, 1.0x Inverness.

  • The Villages, FL has a cost of living index of 108, 1.1x Inverness.

  • Wesley Chapel, FL has a cost of living index of 103, 1.1x Inverness.

City Population Cost Of Living Vs. Inverness
Spring Hill, FL 114,706 93 1.0x
The Villages, FL 76,415 108 1.1x
Wesley Chapel, FL 65,134 103 1.1x
Winter Garden, FL 45,978 103 1.1x
Land O' Lakes, FL 38,674 104 1.1x
Lutz, FL 23,827 104 1.1x
Tavares, FL 18,290 88 0.9x
Trinity, FL 18,191 116 1.2x
Lady Lake, FL 15,683 92 1.0x
Cheval, FL 12,839 111 1.2x

Articles About Florida

Enjoy The Snack?